Charlotte Tech News

[KJHburg]

3 minutes ago, wilmore said:

Weird they would not mention how many people were affected. 

This has definitely hit the parking world hard as ParkWhiz & SpotHero both had significant furloughs/layoffs as well in response to COVID-19. 

I think their demand for their product is really going down right now.  I know of several cities that have suspended parking meters (not sure if Charlotte has and they are not a Passport customer ironically) 

[Madison Parkitect]

50 minutes ago, KJHburg said:

I think their demand for their product is really going down right now.  I know of several cities that have suspended parking meters (not sure if Charlotte has and they are not a Passport customer ironically) 

On the other hand, you have companies like LAZ who run the parking for the building I work in and they're being real jerks about not letting people out of their monthly parking contracts without a 30-day notice, and then if people cancel their parking and want to get it again when this is over they have to get on a waitlist. They've apparently been sending out really awful emails to people.

[EllAyyDub]

14 hours ago, Madison Parkitect said:

On the other hand, you have companies like LAZ who run the parking for the building I work in and they're being real jerks about not letting people out of their monthly parking contracts without a 30-day notice, and then if people cancel their parking and want to get it again when this is over they have to get on a waitlist. They've apparently been sending out really awful emails to people.

SP Plus (Standard?) let me put April on hold.  No payment and will get my spot back when things resume.  Really appreciated that.

[CLT2014]

14 hours ago, Madison Parkitect said:

On the other hand, you have companies like LAZ who run the parking for the building I work in and they're being real jerks about not letting people out of their monthly parking contracts without a 30-day notice, and then if people cancel their parking and want to get it again when this is over they have to get on a waitlist. They've apparently been sending out really awful emails to people.

Some employees are likely having a hard time containing their emotions right now. Every cancellation / pause to a monthly contract means more of their fellow co-workers will likely be laid off as revenue dwindles for 45+ days. The parking manager for garages may even be at risk. Especially with Uptown parking, many LAZ employees are probably struggling feeling sympathetic to clients that by and large are middle class or upper class and working from home with full pay and benefits. As clients describe their plight of paying for parking still to a working class / lower class employment base in parking operations that is at risk of full termination, sympathy starts to dwindle.  

Not saying that's the right thing, but I know many people are scared for their jobs right now and sometimes the "customer first" mindset can switch to survival mode. 

Edited April 1, 2020 by CLT2014

[tozmervo]

2 hours ago, CLT2014 said:

Some employees are likely having a hard time containing their emotions right now. Every cancellation / pause to a monthly contract means more of their fellow co-workers will likely be laid off as revenue dwindles for 45+ days. The parking manager for garages may even be at risk. Especially with Uptown parking, many LAZ employees are probably struggling feeling sympathetic to clients that by and large are middle class or upper class and working from home with full pay and benefits. As clients describe their plight of paying for parking still to a working class / lower class employment base in parking operations that is at risk of full termination, sympathy starts to dwindle.  

Not saying that's the right thing, but I know many people are scared for their jobs right now and sometimes the "customer first" mindset can switch to survival mode. 

I have dealt with Laz deck managers in the good times. 

It was about the same. 

[CLT2014]

25 minutes ago, tozmervo said:

I have dealt with Laz deck managers in the good times. 

It was about the same. 

Fair enough

[KJHburg]

AvidXchange raises $338M in additional funds.

https://www.wraltechwire.com/2020/04/24/what-fintech-sector-anxiety-avidxchanges-latest-fundraiser-reaches-whopping-388m/

[KJHburg]

Cyberstates 2020 report shows NC has the 2nd fastest growing tech jobs in percentage in USA and overall #5 in total number of net tech jobs in 2019 beating such states as Washington,  Georgia and Massachusetts.   (page 12 of the report) 

NC statewide specific stats page 51 of the report  Median tech wage over $80,000

Charlotte metro stats page 79 shows over 103,000 jobs in the region avg wage over $85,000  7.8% of the local economy   Last year grew 5.9% over 2018 

Nashville metro over 62,000 jobs avg wage about $72,000 growth 2.9%   6% of the economy 

Raleigh (not sure if includes Durham or not though I do think it does as Durham metro is not included)   page 108.  over 96,000 jobs avg wage over $84,000   23.1% of local economy   Last year grew 5.7% over 2018

154 page report is here

https://www.cyberstates.org/pdf/CompTIA_Cyberstates_2020.pdf

 

 

 

 

[KJHburg]

Charlotte Tech Rising  from the Charlotte Regional Partnership (and I expect this to keep growing)

https://charlotteregion.com/blog/2020/05/13/research-data/charlotte-region-s-tech-talent-remains-on-the-rise/

[KJHburg]

Charlotte upstart software company receives $1.5 M in funding.

https://www.wraltechwire.com/2020/05/26/charlotte-based-software-firm-aceyus-raises-1-5m-in-equity/

Looks like based in south Charlotte

https://www.aceyus.com/

[KJHburg]

didnt  know where to put this but Novant is doing drone deliveries of medical supplies from their Kannapolis warehouse but since drones are pretty high tech here you go. 

https://www.kannapolisnc.gov/Community/News/ID/1711/Novant-Health-Launches-Zipline-Drone-Operation-in-Kannapolis

[KJHburg]

Best metros for tech workers to live in and you guessed it Charlotte is in the top 5! 

https://smartasset.com/checking-account/best-places-to-work-in-tech-2020

Raleigh is #3  great showing for the Tar Heel state. 

[KJHburg]

Charlotte's Atom Power receives $17.8 M in funding.

https://www.wraltechwire.com/2020/06/03/charlotte-digital-energy-startup-atom-power-lands-17-8m/

https://www.atompower.com/

 

[KJHburg]

I saw in the Biz Journal an upfit permit for a NY Transit at 615 South College St at the Regions building.

Obviously with a name like that I was curious.  It seems to be an online retailer of shoes from the Bay area.  From a google search here is what I found

""New York Transit, Inc. provides footwear and accessories, dresses, and casuals to ladies and teens. The company serves customers in Asia and Europe, as well as in the United States. New York Transit, Inc. was founded in 1983 and is based in Hayward, California. The company also has offices in New York, New York; and Los Angeles, California""

Sounds like this is HQ relocation of an online retailer from the Bay area to Charlotte!   Makes sense as the Bay area where they are located is close to Palo Alto the highest cost area in Silicon Valley.   Below is their website   I can imagine their space uptown is cheaper than any office space in the Bay area and it is easier to recruit to as we have major shoe retailers in the area.  Rack Room HQ in the university area and Show Show up in Kannapolis.    Anyone have any insight on this company and this location.   As California and the Bay area is so super expensive to operate in makes a lot of sense to me.    Caring.com another Bay area online marketplace for home health workers relocated its HQ to Charlotte as well. 

https://www.rocketdog.com/

Edited June 6, 2020 by KJHburg

[KJHburg]

San Fran based fintech firm Figure Technologies opening a virtual office in Charlotte for now with permanent space to come.

https://www.americaninno.com/charlotte/west-coast-fintech-company-is-expanding-operations-into-charlotte/

[Blue_Devil]

24 minutes ago, KJHburg said:

San Fran based fintech firm Figure Technologies opening a virtual office in Charlotte for now with permanent space to come.

https://www.americaninno.com/charlotte/west-coast-fintech-company-is-expanding-operations-into-charlotte/

This is a cool one, they are a Unicorn (billion in valuation) start up. They have a lot of room to grow.

[KJHburg]

On 6/18/2020 at 10:10 AM, KJHburg said:

San Fran based fintech firm Figure Technologies opening a virtual office in Charlotte for now with permanent space to come.

https://www.americaninno.com/charlotte/west-coast-fintech-company-is-expanding-operations-into-charlotte/

Follow up with this in todays Biz Journal subscriber article:

"""Figure Technologies, a San Francisco-based financial-technology company, is adding an East Coast loan operations center in Charlotte.  Figure helps provide financial services using blockchain technology. It started using blockchain as a cheaper option for securitization. The company then expanded the blockchain technology to other use cases, including multiple lending options, asset management and payments.   Cagney said the lending business is built to be self-sufficient.   Figure is first hiring between 12 and 20 people in Charlotte to work remotely. The goal is to have 40 to 50 employees here by the end of the year, Davies said. The company will hire underwriters, processors and closers. Its head of mortgage operations will sit in Charlotte.  

Davies said he could see the Charlotte center grow to 100 employees, but Figure has no set number.  "I think Charlotte just gives us some other potential opportunities down the road with some of the other businesses that will come out of Figure," he said.  Cagney said he plans to eventually spin off Figure's businesses into standalone operations as they mature. He sees each business line as a $1 billion-plus opportunity."""

https://www.bizjournals.com/charlotte/news/2020/07/13/figure-taps-former-mortgage-exec-in-charlotte.html?iana=hpmvp_clt_news_headline

[KJHburg]

CBRE is out with their annual Tech Talent Report and guess what  Charlotte has 5th highest Brain gain of technology graduates moving here and our total tech pool is 3rd fastest growing in the last 5 years.  Lots of good information total tech jobs in Charlotte 57.340   Raleigh Durham 67.660  Nashville 31, 190 pages 16-17 of the report which you can download here

https://www.cbre.us/research-and-reports/Scoring-Tech-Talent-in-North-America-2020

quick tech market facts here

https://mapping.cbre.com/maps/Scoring-Tech-Talent-2020/

Check out page 41 on the average tech wage vs average apartment great for Charlotte this ratio is terrible for NYC, Long Island, LA, San Fran bay area, Boston etc. 

Ratio of avg apartment rent vs average tech wage is 14.5% in the QC vs 43.9% in NYC meaning in the Big Apple 44% of your average tech worker salary goes to apartment rent OUCH! 

 

[navigator319]

I truly don’t understand why people *choose* to live in NYC, Bay Area, etc. I did this whole exercise for my personal situation when I moved to CLT in 2012.

Sure I *could* have moved to those areas and yes I would love love to live in NYC as I grew up in the vicinity and it’s my ‘home’. Been to SF area several times and love northern Cali coast. But when it came down to it I just could not justify the more then 3x housing prices for all the positives. How do people justifying that for themselves?? All these folks can get jobs in cities like Charlotte in seconds even in current situation.

Is the justification the many positives for the 25-45yo version of yourself, but trading off the 50-70yo version of yourself. I’m immensely happy here in CLT, is it NYC, hell no! But there are no regrets and I’m pretty sure when I’m 50yo I have set myself up to be dominating life Bill Gates style when those others are still going to be in the rat race.

How do more people not come to this conclusion. [emoji2375]

[KJHburg]

Guess what city tops this list of the top STEM job growth markets?    Hand the crown to the Queen City please. 

https://www.cpexecutive.com/post/which-cre-markets-top-stem-job-growth-ranking/

top 5 Charlotte Austin Denver Seattle and Raleigh

Hmm only state with 2 in the top 5 North Carolina! 

quote:

""When the STEMdex began in 2016, Charlotte placed ninth in the Top 20. It moved into third place for the next few years until gaining the first place in this year’s ranking.  “Charlotte has continually been a key city particularly for young population growth and interest from young professionals. One of the key metrics assisting Charlotte was a positive movement in the cost of doing business category along with positive movement in key metrics like having an educated workforce,” Pischke said. ""

[KJHburg]

Look what city is atop the list of STEM job growth and where the jobs will be in the future?  and 2 cities in the top 5 why that is great.

https://www.wraltechwire.com/2020/08/04/where-are-stem-jobs-charlotte-is-no-1-raleigh-no-5-in-new-index/

[carolina1792]

On 8/5/2020 at 9:33 AM, KJHburg said:

Look what city is atop the list of STEM job growth and where the jobs will be in the future?  and 2 cities in the top 5 why that is great.

https://www.wraltechwire.com/2020/08/04/where-are-stem-jobs-charlotte-is-no-1-raleigh-no-5-in-new-index/

By Metropolitan Area do they mean Raleigh MSA or Raleigh/Durham CSA? Because RTP is mostly in Durham County and the park is basically nothing but STEM job galore.  

[KJHburg]

2 hours ago, carolina1792 said:

By Metropolitan Area do they mean Raleigh MSA or Raleigh/Durham CSA? Because RTP is mostly in Durham County and the park is basically nothing but STEM job galore.  

I never know with these national studies like this if they mean Raleigh Cary MSA or the Durham Chapel Hill MSA or the consolidated area.   Many times both Durham and Raleigh show up. 

[elrodvt]

I can't believe it includes rtp so it's bogus.

[KJHburg]

another Charlotte tech upstart success story raises $2.6 M

https://www.bizjournals.com/charlotte/inno/stories/fundings/2020/08/07/catapult-hq-raises-2-6m-in-capital-funding.html

https://catapulthq.com/